On Wire

Breaking news, updates, and reports on current events.

Sign Of The Times! US Gasoline Prices Decline To $4.94, Diesel Prices Rise To $5.80 As Recession Fears Mount (Reverse Repos At Fed Hit All-time High)

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by confoundedinterest17 The talk of a gasoline tax “holiday” out of Washington DC is pure Kabuki theater. It is purely a sign of the times with Biden still trying to blame Putin for rising gasoline prices and inflation and ignoring his anti-fossil fuel policies that helped drive energy prices AND inflation through the roof. Daily regular gasoline prices … Read more

Pope Says He Is NOT Resigning

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“Pope Francis has slapped down rumours that he would resign amid a flurry of health issues, vowing to serve as pontiff for ‘as long as God allows’. Francis, 85, cancelled a trip to Africa last week due to mobility concerns, prompting fears for his health. He also told a meeting of priests in Rome last … Read more

JON GABRIEL: Who needs a right-wing plot when progressives are busy eating themselves alive?

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In [Ryan] Grim’s [Intercept] piece, one senior progressive congressional staffer (anonymous, of course) couldn’t hide his frustration. “There are wins to be had between now and the next couple months that could change the country forever, and folks are focused on stuff that has no theory of change for even getting to the House floor for a … Read more

Supreme Court rules for GOP lawmakers in voter ID case

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The Supreme Court gave Republican legislative leaders in North Carolina a win Thursday in an ongoing fight over the state’s latest photo identification voting law. The 8-1 decision doesn’t end the more than three-year dispute over the voter ID law, which is not currently in effect and has been challenged in both state and federal … Read more

World’s Bubbliest Markets Flashing Warning Signs

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A WORLD economy already contending with raging inflation, stock-market turmoil and a gruelling war is facing yet another threat: the unravelling of a massive housing boom. As central banks around the globe rapidly increase interest rates, soaring borrowing costs mean people who were already stretching to buy property are finally reaching their limits. The effects … Read more

In first months since passage of St. Paul’s rent-control ordinance, housing construction is way down

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When St. Paul’s rent control ballot measure passed in November, it contained a unique provision for national rent control policies: there was no exception for new housing construction. Typically, in order to make sure that new homes still get financed and built, rent control policies only apply to older apartments, either exempting buildings for a … Read more

KEEP ROCKIN’! The L.A. Times assures its readers: Yes, a recession looks inevitable. But will it be that bad?

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via LA TIMES: Whether it’s President Biden insisting a recession is avoidable or his critics arguing that the wolf is at the door, both sides are acting as if the nation faces an unprecedented catastrophe. Partly it’s political theater — Biden fighting on behalf of an already beleaguered presidency and many of the doomsayers hoping a downturn … Read more

Rent Increases in the U.S. Have Broken Records for 13 Consecutive Months

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The cost of rent continued its meteoric rise in April, marking the 13th month in a row of record-setting increases for single-family units. Nationally, single-family rent jumped 14% year over year in April, according to a report released Tuesday by the real estate data firm CoreLogic. Rent in several major metropolitan areas, particularly Sun Belt … Read more

Blame government for pilot shortage

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Planning to fly this summer? Good luck. Delays are up. Cancellations, too. Why? Because of the pilot shortage. A pilot shortage? How can this be? Flying is a popular job. Some people fly small planes just for fun. Why aren’t there enough commercial pilots? Because the government passed another dumb law. In 2009, after a Colgan Air … Read more